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Online loans are treated just like any other loan you take from banks and NBFCs. The same rules apply when you default on an online loan. Defaults generally can have a negative impact on your future borrowing.

Your credit score is calculated based on different elements. They include your payment history, credit utilization, length of your credit history, credit inquires and your credit mix.

Life insurance is needed as it offers financial protection to individuals who are dependent on the policy holder after his/her death.

If you have a good credit score that is above 750, the interest rates that you will receive for your personal loan will be lower. A credit score is a three-digit number that shows your creditworthiness. Banks use your credit score to assess your reliability.

All unsecured loans such as personal loans are hard to apply for with a low credit score. An unsecured loan means that you do not need to provide any collateral in the form of gold, property or other assets as security for the loan amount. This increases the risk factor for the bank or the Non-Banking Financial Company (NBFC).

Your first Home Loan EMI will be deducted on the subsequent due date in the month following your home loan disbursal.  For example, if your monthly EMI debit date is the 10th; and your home loan was disbursed on the 18th of June; Your first EMI will be deducted on the 10th of July.  Now, there are different factors involved in calculating your first EMI debit date.

Your credit score is the representation of how well you have dealt with your past credit activities. It is a three-digit number that ranges between 300 and 900.

Credit cards can be a boon when used carefully but at the same time, they can also turn as a bane if not handled carefully. Let’s look at some of the best ways to use credit cards and making them a boon for you.

It is possible to get a personal loan without having any credit history, it can be hard. Here are a few tips to keep in mind when applying for a personal without any credit history.

A hard inquiry can lower or negatively impact a person’s credit score by zero to five points based on one’s credit profile and credit history. The more frequent a hard inquiry, the more points the individual loses. Hard inquiries can stay for almost 24 months (2 years) on a credit report.

Credit cards which are provided by banks come in different types for different purposes. It is hard to point out just one bank that provides the best credit cards. The fact is one credit card that is best for one person may turn out to be unsatisfying to another person in terms of availing any benefit, as their spending behaviour could be different.

If you are a business person who is looking to establish, expand or improve your business, you can apply for a business loan from a bank or a Non-Banking Financial Company (NBFC).

No, not using a credit card does not hurt or lower your credit score. You can have a credit card and not use it for a while and still maintain your credit score without it lowering.

It isn’t about which is the best bank for personal loans, but which is the bank that is right for your personal loan needs. Each bank has different eligibility criteria which may not be applicable in the same way to everyone. For example, you are likely to get a better personal loan with the bank where you have a savings or salary account than with the bank where you have no relationship at all.

It is important to know that not all credit score checks lower an individual’s credit score. There are two types of credit score checks, namely, a soft check (also known as a soft inquiry) and a hard check (also known as a hard inquiry).

An Equifax credit score of above 750 is considered to be a good credit score for a personal loan. Most lenders check an individual’s credit score in order to judge their creditworthiness. So, if you have a credit score of above 750, it reduces your risk factor to the lender as you will be considered a creditworthy customer.

Equifax is a global information solutions company. It utilizes unique data, innovative analytics, technology and industry expertise to power organizations and individuals across the globe by helping them make informed business and personal decisions. They have a diverse range of specialised products and services that include credit reports, data management, analytics, alerts and more.

A personal loan has a lot of advantages. It can help you provide immediate finance for your wedding, vacation, education, purchase of gadgets, home appliances, medical emergency, etc. As it is an unsecured loan, getting a personal loan with lower interest rate is a challenging task. However, with the good eligibility criteria, you are very likely to get a personal loan with low interest rate.

For many people, especially in India, who have never borrowed from a bank, credit score may be an unknown term. It is a three-digit numerical that generally ranges between 300 to 900. Anyone who has never borrowed will not have a credit score. It may be a mystery to you as to why you get a credit score and what are the benefits of a credit score. Let’s clear these doubts.

The credit score ranges between 300 to 900. Any credit score of 750 and above is considered a good credit score. However, you may check with the lender with whom you apply for a loan or credit card for the minimum required credit score. Some lenders do provide all credit products even if you have a credit score of 600 and above. However, a good credit score of 750 and above gives you the power of negotiation for interest rates. It could still be a mystery to you how to get a good credit score. Following are the ways following which you can get a good credit score.

While applying for a credit card, it is mandatory that you must submit certain documents to the credit card issuing company in order to process your application. Different banks have different document requirements based on their policies. Similarly, the documents required can vary from individual to individual as well as depending on their income, professional type and employer. Following are some of the documents that are generally required for a credit card application.